Distinct Infrastructure Group Reports Record 2016 Revenue and EBITDA

TSXV:DUG │OTCQX:DSTFF

TORONTO, April 27, 2017 /CNW/ - Distinct Infrastructure Group Inc. ("Distinct" or the "Company") today released its financial results for the three-month and twelve-month periods ended December 31, 2016. For the twelve-month period ended December 31, 2016 ("FY2016"), the Company had record revenues of $59.6 million, an increase of $22.5 million or 61% as compared to the thirteen-month period ended December 31, 2015 ("FY2015"). Factors contributing to the Company's revenue growth included a continual increase in the number of projects from one of Canada's largest telecommunications company.

"We are extremely pleased with the financial results for 2016 as it is an affirmation of Distinct's business model and strategy to focus on organic growth," said Alex Agius, Co-Chief Executive Officer of the Company. "The Company has been extremely successful in continuing to grow its core business organically by providing its clients with the service and workmanship that they have come to expect from Distinct."

Further commenting on the positive financial results, Joe Lanni, Co-Chief Executive Officer of the Company stated: "The expenditures undertaken by the Company during the first half of 2016, including manpower and equipment, is reflected in the record revenues realized by Distinct in 2016. The Company continues to invest in its core business to facilitate its organic growth while continuing to evaluate potential acquisitions."

Other highlights for FY2016:

• Adjusted EBITDA of $8.2 million in FY2016 as compared to $6.8 million in FY2015, a 20% increase. Adjusted EBITDA margin was 13.7% in FY2016 compared to 18.4% in the prior fiscal year, a decrease of 4.6% year over year.
• The majority of top-line and EBITDA growth has been organic, as the Company continues to procure additional projects and increase its book of business with its key clients. Organic growth in Ontario continues to keep pace with its existing customers' increasing workload, fueled by projects initiated by some of Canada's largest communication companies, various utilities and municipalities across the province.

Consolidated Financial Highlights

	December 31, 2016	December 31, 2015
Total current assets	55,204,500	34,337,754
Total non-current assets	19,588,728	15,947,639
Total Assets	74,793,228	50,285,393
Total current liabilities	21,414,718	8,719,675
Total non-current liabilities	24,523,655	25,050,270
Total Liabilities	45,938,373	33,769,945
Total Shareholders' Equity	28,854,855	16,515,448
Total Liabilities & Shareholders' Equity	74,793,228	50,285,393

	12 months ended	13 months ended
	December 31, 2016	December 31, 2015
Revenue	59,651,096	37,104,288
Expenses
Direct costs	42,034,570	24,882,388
Selling, general and administrative	9,662,927	5,428,480
Depreciation	2,891,009	1,587,155
Total expenses	54,588,506	31,898,023
Earnings from operations	5,062,590	5,206,265
Other expenses
Finance expense	3,664,931	976,460
One-time costs	74,270	1,183,122
	3,739,201	2,159,582
Income before taxes	1,323,389	3,046,683
Income tax provision	512,800	776,282
Net and comprehensive income	810,589	2,270,401
Earnings per share:
Basic and diluted	0.03	0.11
EBITDA	7,879,329	5,610,298
Adjusted EBITDA	8,182,609	6,814,832

Note: EBITDA and Adjusted EBITDA are non-GAAP/IFRS figures. "EBITDA" represents net income plus income tax provision, finance expense and depreciation. "Adjusted EBITDA" represents EBITDA plus share-based compensation and one-time costs. Non-GAAP financial measures do not have standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. Specific items may only be relevant in certain periods. For reconciliation of Net Income to EBITDA and Adjusted EBITDA please refer to the Company's Management's Discussion and Analysis for the year ended December 31, 2016.

The financial statements, notes to the financial statements and Management's Discussion and Analysis for the three month period and year ended December 31, 2016 are available on SEDAR at www.sedar.com as well as DIG's investor relations website at www.diginc.ca.

About Distinct Infrastructure Group:

Distinct Infrastructure Group Inc. is a turnkey solutions firm providing design, engineering, construction and maintenance services to telecommunication firms, utilities and government bodies. Distinct's full service suite of offerings includes underground construction, aerial construction, inventory management, and technical services including fibre to the building and home. The Company's head offices are located in Toronto, Ontario, with additional offices in Edmonton, Alberta.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

SOURCE Distinct Infrastructure Group Inc.

For further information: please contact: Manny Bettencourt, Chief Financial Officer, Distinct Infrastructure Group Inc., Email: [email protected], Email: [email protected]